The New York Knicks enter the 2013 offseason with a lot of questions to address, most of which concern retaining their own players, rather than picking up somebody new.

With Amar'e Stoudemire constantly injured and Jason Kidd retired to coaching the rival Nets, New York must decide which players are important to their build toward contention and which would be overpaid if they ended up staying on the team.

Metta World Peace Signs with Knicks

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The Buzz

UPDATE: Tuesday, July 16, at 5:25 p.m. ET by Zach Buckley

CBS Sports' Ken Berger reports that the New York Knicks have officially announced their signing of veteran forward Metta World Peace. Per ESPNNewYork.com's Jared Zwerling, Knicks general manager Glen Grunwald voiced his excitement of adding a player with World Peace's "toughness" and "championship experience" to New York's roster.

World Peace had previously tweeted a photo taken of him as he signed his new deal along with the caption "officially signed."

The source said that he doesn't think a young team would bite when Metta hit the waiver wire.

Marc J. Spears of Yahoo! sports also reports that World Peace is someone the Knicks would "love" to have on their roster.

Buying or Selling?

Prematurely buying.

If Metta clears waivers, he'll likely want to go to a contender. He played his college ball at St. John's when he was known as Ron Artest, so it's not ridiculous to believe he'd be interested in a return.

For the Knicks, they would probably welcome his defense. As for his eccentric background, that's a different story.

Newsday's Al Iannazzone recaps the deal, saying the Knicks sent Marcus Camby, Steve Novak, Quentin Richardson (sign-and-trade), a 2016 first-round pick and two second-round choices in 2014 and 2017 in exchange for Bargs.

---End of update---

After Howard Beck of The New York Times reported that there was a hangup with the deal, the Knicks have found a way to trade for Andrea Bargnani. Per Beck's original report, New York would surrender Marcus Camby, Steve Novak and a pair of future draft picks.

It's not yet clear what the two teams tweaked to gain the league's approval, but according to Yahoo! Sports' Marc Spears it has gone through and will become official once the moratorium ends on July 10.

Spears adds that Camby "loves Toronto," but he wants to be on a title contender and will "evaluate his options." It sounds like he'll seek to be bought out.

ESPN's Marc Stein reports that Earl Barron or Quentin Richardson are both candidates for a sign-and-trade in order to complete the deal, and whichever veteran goes to Toronto will get a "nice" chunk of change.

It appears that the Knicks are looking to make some kind of splash by bringing in the former No. 1 overall pick. Bargnani fell out of favor in Toronto after a couple of injury-plagued seasons and a long bout of ineffectiveness, so it's not surprising that he's available.

Bargs is a capable offensive player with a lot of skill for his size. But if the jumper—once one of his best assets—stays broken, this could turn out to be a mistake for the Knicks.

Still, Camby was essentially dead weight last year, and Novak is as one-dimensional as a player can be. Bargnani makes a lot of money ($23 million over the next two seasons), so it's hard to call this a "buy low" situation, but perhaps the Knicks' free-wheeling offensive style will help the Italian big man rediscover his form.

Smith's father, Earl Smith, has said that his son is still listening to offers, but could sign as soon as July 5, per Marc Berman of the New York Post.

And jumping the gun a bit, Frank Isola of the New York Daily News reports that Smith's deal is for four years and just over $24 million.

Depending on which reports you believe, Smith's return to the Knicks is either a done deal or an eventual certainty.

It didn't always seem likely, but it appears that Smith will be back with the Knicks next season.

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Unfortunately for the Knicks, the reigning Sixth Man of the Year and second-leading scorer for New York had a player option for the upcoming season, which he promptly opted out of, according to ESPN's Ian Begley.

There's something about making just $2.9 million while averaging 18 points per game that didn't seem appealing to the Knicks guard.

Smith becomes a free agent after opting out, meaning the Knicks are going to have to work in order to keep Smith, which they plan on doing according to Al Iannazzone of Newsday.

New York will face competition in keeping Smith because the Milwaukee Bucks and Detroit Pistons are "among several teams" eyeing his services, according to Begley.

ESPN's Jared Zwerling and Chris Broussard confirmed that the Bucks have interest in Smith and added that they have the money to outbid the Knicks. They also added the Phoenix Suns to Smith's growing list of suitors.

Smith made fans a bit nervous following the draft when he tweeted, "It was fun while it lasted..." but he was pulling everyone's leg at that point, saying he was referring to a conversation with a cab driver.

New York's first move of free agency was meet with Smith according to Zwerling, but nothing will come in terms of negotiation for the time being.

According to the New York Post's Marc Berman, the Pistons aren't all that interested in acquiring Smith via free agency.

Zwerling went on to report that there is a growing belief that Smith will now leave the Knicks because of how the shooting guard market has played out. "He has to," an agent told Zwerling of Smith.

Buying or Selling?

Time to officially buy this, as Smith has inked a new deal with the Knicks.

The deal is for a reported four years and $26 million, with the final year being a player option.

This is a solid deal all around, as Smith was a critical piece of the Knicks success last season. He's thrived in his role off the bench and should continue to do so in the Big Apple for years to come.

Kenyon Martin Returning to New York?

According to Jared Zwerling ESPN, Mike Woodson says that the Knicks are still talking to Kenyon Martin.

Woodson told Zwerling that Martin is still a big part of what New York plans to do.

---End of update---

The Knicks are the favorites to sign Martin, says Jared Zwerling of ESPN.

While their had been talks with Elton Brand to fill Martin's role from last season, it now appears unlikely Brand will sign with the team.

This makes Martin's return more important, as he can play either post position and brings toughness with him everything he steps on the court.

The Knicks will be looking to give Martin a veteran's minimum contract.

Buying or Selling?

We're buying a return of Martin to New York, where he spent 30 games last season including playoffs.

At 35, Martin is well past his prime but is still a valuable contributor to a veteran team. Expect other teams to be interested in him for the right price, with deals anywhere in the vet minimum to $2 million range per year.

Add Al Harrington to New York's List of Potential Targets

According to Marc Berman of the New York Post, the Knicks are interested in signing Al Harrington.

While he isn't a free agent, the Magic are expected to buy him out soon.

Buying or Selling?

No surprises here, as the Knicks seem to be chasing anyone who can score.

Harrington can do a bit of everything on the offensive end as either a small or power forward. If he's willing to play off the ball and be used as mainly a spot-up shooter, his ability to knock down treys would make him a good fit for New York's offense.

Of course, he'll have to agree to sign for the veteran's minimum, and that's if Orlando and him actually agree to a buyout of his current contract.

Knicks Have Anthony Tolliver on the Brain

Tolliver is expected to wait on the Hawks before entertaining any other offers.

Buying or Selling?

Tolliver is a nice option at stretch forward and a more scrappy rebounder than most give him credit for, but he hardly solves their size problems.

That said, his presence certainly keeps in theme with the whole jack-up-threes-all-the-time scheme they seem to have going. Tolliver can score down low as well, but he's always been prone to living on the outside.

In other words, he'll be a good fit for what the Knicks appear to be striving for. Whether or not that's a good thing is still up for debate.

The former Knick could provide valuable defense at a position that otherwise lacks it. Unless Pablo Prigioni or Raymond Felton suddenly become stoppers, New York is going to need to find someone to at least make it difficult for opposing point guards.

Douglas would be a nice fit in a limited role.

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UPDATE: Sunday, July 7, at 11:19 p.m. ET by Grant Hughes

Zwerling also reports that Sebastian Telfair may not be an option for the Knicks for financial reasons. New York has almost no payroll flexibility after re-signing J.R. Smith and bringing in Andrea Bargnani this summer.

---End of update---

UPDATE: Saturday, July 6 at 12:55 p.m. ET by Jesse Dorsey

Marc Berman of The N.Y. Postreports that the New York Knicks have interviewed Sebastian Telfair and are considering him in a backup point guard role.

According to Jared Zwerling of ESPN, Nate Robinson won't be among the point guards the Knicks pursue. Because the team split up its mid-level exception, there won't be enough money available to afford the pint-sized spark plug.

---End of update---

New York will have $3.1 million worth of a minimum mid-level exception to spend this summer if Chris Copeland signs elsewhere, which seems to be a likely scenario.

The earliest reports, this from NBCSports.com, say that New York will target Will Bynum, who has spent most of his career as a backup point guard with the Detroit Pistons.

Bynum averaged 9.8 points and 3.6 assists through 65 games last season, but doesn't do much in terms of helping the Knicks around the perimeter, which is one of their biggest targets this summer.

Further, Zwerling that Aaron Brooks, A.J. Price, Sebastian Telfair, Jamaal Tinsley and Earl Watson will all be on their radar.

Alex Kennedy of Hoopsworld reports the Knicks have interest in Sebastian Telfair as well.

Berman writes that the Knicks have officially reached out to Bynum and that they've also "checked" in with Earl Watson.

Buying or Selling?

It's definitely worth it to buy that the Knicks will target Bynum, but don't put too much stock in the Knicks actually landing him.

The Los Angeles Lakers will also target Bynum, and the little dude may not be ready to leave Detroit as it is.

It was rumored that he would take off after his contract ended, but the addition of Maurice Cheeks could convince him to stay, as the hiring was praised by Bynum.

Harris may prove to be out of New York's price range and could also opt to sign somewhere he's guaranteed more playing time. Price shouldn't be too much of an obstacle for Watson, but once again, playing time will be a factor.

Regardless, we're buying the fact that the team is in the market for a backup point guard.

Raja Bell Works out for Knicks

Shams Charania of RealGM reports that Raja Bell worked out for the Knicks and impressed to the point where he will be considered for a roster spot.

The Knicks are said to be interested in the perimeter defense and outside shooting he provides.

Pushing 37, Bell hasn't appeared in a game since the 2011-12 campaign.

Buying or Selling?

Going to sell this one.

Clearly the Knicks would be interested in some additional shooting, since they're built to shoot, but they have more pressing needs to fill first.

New York still needs to find another point guard and get their front-court rotation in order before chasing another aging vet who plays a position it is already set at.

If he can stay healthy—and get actual minutes—Bell will be of great value to a team looking for a shooter who can hold his own on the defensive end. I just have my doubts that the Knicks will be that team.

If one or both of J.R. Smith and Chris Copeland head elsewhere, the Knicks need a scorer to plug into the rotation. They aren't going to find a legitimate replacement with the money, or rather lack thereof, they have to offer.

Fittingly enough, Leslie is kind of like a Smith 2.0. He's not as inefficient, but tends to bail himself out with questionable jumpers on the perimeter. He's had problems protecting the ball as well.

When he's engaged, he's a supreme talent, someone who could have gone in the top 25 of the draft. As is, he's a project in need of some coaching.

According to Frank Isola of the New York Daily News, Nate Robinson would be interested in a return with Knicks if he doesn't receive a more lucrative offer elsewhere.

New York can only offer Robinson $1.7 million of its mini mid-level exception, as it spent the remainder on re-signing Pablo Prigioni.

---End of update---

New York continues to rake the depths of the league for any free agents that may come at a discount, most recently contacting Nate Robinson's agent with the possibility of a reunion, per The N.Y. Post's Marc Berman.

Robinson's agent rebuffed the Knicks, however, as Berman stated that a second stint with New York isn't likely for the point guard.

After Berman's report, ESPN's Jared Zwerling notes Robinson does indeed have interest in joining the Knicks, so we've got some conflicting information here.

Buying or Selling?

It seems New York's only chances of landing Nate is if they give him a bid higher than what other teams are offering.

There's no telling what New York's offer could be, and Nate hasn't gotten offers from elsewhere up to this point, but go ahead and sell this one.

Carmelo Anthony Won't Need Surgery

'Melo's shoulder hindered his performance throughout the Knicks' playoff run, though he was able to play through the injury.

Buying or Selling?

Even if this was known to be completely false, Knicks fans would buy it. The last thing New York needs is its best player going under the knife.

With the Knicks being as old as they are and Tyson Chandler and Amar'e Stoudemire being as banged up as they are, 'Melo's health is of the utmost importance to this team and their future.

Hopefully 'Melo's declaration then proves to be accurate. The Knicks need him healthy to start the season if they're to compete in what will be a very different Eastern Conference than the one they played in last season.